A recent market study by Evolve DataBank forecasts significant growth in the global video surveillance sector, with the market size projected to reach USD 15.92 billion by 2034. The report highlights a compound annual growth rate (CAGR) of 22.54% from 2021 to 2034, driven primarily by advancements in IP video surveillance and AI-powered analytics technologies.
The study emphasizes a shift toward digitized and autonomous monitoring systems, reflecting broader trends in security and surveillance. These technological developments are reshaping how organizations approach safety and operational efficiency worldwide.
**Why this matters**
Understanding the rapid growth and technological evolution in video surveillance is crucial for businesses, policymakers, and security professionals. The insights provided can inform investment decisions, guide strategic planning, and help stakeholders adapt to emerging trends in digital security solutions.
Source: NewsData